I have been struggling with Exchange/Outlook spam issues for a while, and (following advie elsewhere) also contacted the Bing Chatbot, and the Office 365 support at lengths.
First, the Bing Chatbot is really helpful in decoding the separate elements of the "X-Forefront-Antispam-Report" header.
What does the value IPV:NLI mean in the X-Forefront-Antispam-Report header?
The IPV field in the X-Forefront-Antispam-Report header indicates the IP version of the client that sent the message. The value NLI in this field means that the IP version is not listed.
So far, so good, but it had no more details on the SFS part of the header, which would be the interesting part. At least it's useful in explaining the SRS verdicts:
The Sender Rewriting Scheme (SRS) functionality was added to Microsoft 365 to resolve a problem in which autoforwarding is incompatible with SPF. The SRS feature rewrites the P1 From address (also known as the Envelope From address) for all applicable messages that are sent externally from Microsoft 365.
And it also tells who exactly is adding the SRS.
The SRS verdicts are defined by the receiving mail server and displayed in the X-Forefront Antispam Report header.
The Office 365 support was similarly non-conclusive, offering me the business support phone number as solution. That sounds very much like the SRS numbers are IDs used locally by a Exchange server, and there is no way around asking the guys who run the server.